HP appoints new chief executive

Hewlett-Packard (HP) has appointed former SAP boss Leo Apotheker as its new chief executive.

The 57-year-old computer software executive was named the new HP chief, following Mark Hurd's departure in August.

Apotheker left Germany-based business software firm SAP in February this year. He had been working with the company since 1988, while he took the role of co-CEO in April 2008.

Talking about his new position, Apotheker reportedly said he was joining one of the "most innovative cultures in the industry, and an accomplished management team who have played a critical role in its success".

It was thought that HP would appoint an insider as the new boss after the company's last two chief executives - Hurd and his predecessor Carly Fiorina - clashed with the board.

Meanwhile, HP also hired Ray Lane - a partner at a venture capital firm and former executive at Oracle - as its non-executive chairman.

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